Business

Iran has officially launched its first-ever specialized refinery designed to process super heavy crude oil on the southern Qeshm Island, as the country keeps promoting its energy sector regardless of tough US sanctions.

Despite widespread criticism, Abdolali Ali-Asgari has denied media reports on his resignation as the managing director of a giant Iranian petrochemical company.

Iran’s roads and urban development minister on Thursday said Tehran and Damascus reached an agreement to establish a joint free zone.

Iran’s trade with its 15 neighboring states in the first nine months of the Iranian calendar year (starting March 21, 2021) witnessed a 42 percent growth in terms of value in comparison with the figure of its corresponding period in the previous year, said the head of the Islamic Republic of Iran Customs Administration (IRICA) on Thursday.

The head of Iran-Syria Joint Chamber of Commerce on Wednesday announced a 90 percent growth in Iran’s exports to Syria during the nine months to December 2021.

The first phase of Minab-Sirik-Jask pipeline in southern Iran carrying the country’s gas to Oman has made significant progress.

Abdulali Ali-Asgari, former head of the IRIB, has been appointed as new director general of Iran's Persian Gulf Petrochemical Industries Corporation.

Iran’s police say they have identified the location of the former President of its Bank Melli, who is the main suspect in a major embezzlement scandal, but officials of the country, where he is a resident now, have openly turned down requests for his extradition.

The CEO of the National Iranian Oil Company, NIOC, has said in the thirteenth government, Iran regained part of the oil market share it lost due to sanctions and it is now getting paid for any amount of crude that it sells. Mohsen Khojasteh Mehr added that part of Iran’s oil sales is done by the private sector and that the country’s oil revenues have increased significantly in recent months. He also said all the revenues from the sale of Iranian oil have been received and there are no overdue oil revenues in the 13th government.

The Iranian parliament has approved the generalities of the budget for the next Iranian calendar year that begins on March 21. The lawmakers voted for the generalities of the budget bill with 174 votes in favor, 76 against and 6 abstentions.

Permanent Mission of the Islamic Republic of Iran to the United Nations has reacted to an article published by the Wall Street Journal which argues in favor of American military strikes against Iranian nuclear facilities.

An Iranian state-run newspaper has accused Parliament of not caring enough about the country’s economy.

Iran's Deputy Foreign Minister Ali Bagheri Kani has stressed that regardless of the outcome of the talks between Tehran and P4+1 group in Vienna, the South Korean government is obliged to release blocked Iranian money

Iraq's Ministry of Electricity has rejected media reports that Baghdad has settled accounts with Iran for gas imports.

Iranian Taxi apps Snapp and Tapsi are down due to unknown reason.

Iranian President Ebrahim Raisi has stressed the importance of boosting trade and economic exchanges between the Islamic Republic and Armenia.

The head of the Iran-China Chamber of Commerce says the signing of the Tehran-Beijing cooperation document shows Iran has global trade partners.

Iran’s Oil Ministry says the country has begun natural gas swap with Turkmenistan and the Azerbaijan Republic as part of a trilateral agreement recently signed between the three sides.

An Iranian official has announced the export of 207,000 tons of various agricultural products (summer crops) worth $63 million via the Mehran border crossing to Iraq.

A gas leakage in phase 16 of Iran’s South Pars field has caused the country’s gas production to fall by 15 million cubic meters per day.

Raisi: No plans to raise gasoline prices

The spokesman for Iran’s Customs Organization says the situation has returned to normal at the Bazargan crossing on Iran’s border with Turkey.

Iran’s petrochemical exports are expected to hit nearly $14bnm by the end of the current calendar year on March 22, says an Iranian official.

An Iranian business official says that neighboring Iraq’s debt to Iran stands at between 5 to 7 billion dollars, and that there is no obstacle in Baghdad’s debt clearance process, despite certain claims to the contrary.

Iran and Iraq have launched a railway construction project that will connect the town of Shalamcheh in the Iranian province of Khuzestan to the Iraqi city of Basra.